EAEE calls for tax exemption for spending on insurance

EAEE calls for tax exemption for spending on insurance

Insurance companies are demanding the exemption of spending on insurance policies from taxpayers’ taxable incomes in a bid to create an additional incentive for people to get covered. This has emerged in the context of the dialogue between the sector’s enterprises and the government to strengthen the so-called third pillar, private insurance.

Kathimerini understands that the proposal by the insurance industry – tabled to the committee created on the Labor Ministry’s initiative – provides for the tax exemption not only of insurance policies paid for out of private savings, but also health policies and earthquake policies, which constitute a significant area for the growth of insurance activity.

At a press conference on Friday the Hellenic Association of Insurance Companies (EAEE) noted the important role the private sector can play in covering a series of risks that Greek households and corporations face.

EAEE President Alexandros Sarrigeorgiou appeared optimistic about the cooperation between the state and the private insurance sector, and spoke of a constructive dialogue between the government and the market aimed at tackling the phenomenon of underinsurance in Greece.

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